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6 INFRASTRUCTURE AUSTRALIA APRIL 2011
Finance
Funding the nation s infrastructure requirements
Last year s federal budget made
signi cant windfall into provid-
ing more funding for infrastruc-
ture and related projects.
The most significant funding an-
nouncement was a $5.6 billion allotment
over 10 years for a State Infrastructure
Fund, to commence in 2012/13 with an
initial contribution from the government
of $700 million. e fund is intended to
secure funding for federal and state gov-
ernment budgets and takes into account
the greater needs of resources rich states
for larger infrastructure projects.
The federal government set aside
funding for a number of different rail
projects. ese included a $996 million
equity investment into the
government-owned Austra-
lian Rail Track Corporation
for upgrades to the interstate
freight rail network and an
allocation of $70.7 million
to complete detailed plan-
ning on the Moorebank
Intermodal Freight Terminal
Project in Sydney. A further $8.3 million
was budgeted for the establishment of
national regulators for heavy vehicles, rail
safety and maritime safety.
It also set aside $200 million over four
years to strengthen international and
domestic aviation security, $89.9 mil-
lion over four years to the Civil Aviation
Safety Authority to increase its skilled
workforce, technical capacity and regu-
latory oversight, and $8.5 million for the
development of an Aviation Strategic Plan
for the Sydney region in conjunction with
the NSW government.
Funding for a Renewable Energy Fu-
ture Fund was also set aside, with $652
million over four years forming part of
the government s existing $5.1 billion
Clean Energy Initiative. It will see support
for the development and deployment of
renewable energy projects including wind,
solar and biomass.
Since the 2010/11 budget announce-
ment, several changes have been made
to the budget following the election of a
hung parliament and the several national
disasters.
In keeping with its commitments to the
Greens, the federal government pledged
to provide $20 million over two years
for a study into the implementation of a
high-speed rail network in Australia. e
rst stage of the study is scheduled to be
completed by July (See also page 14).
Following the government s election
promises, an additional $40 million would
be brought forward from the rst Nation
Building Program for the upgrade of the
Great Eastern Highway in Western Aus-
tralia. $7 million over three years would
also be brought forward for the upgrade
of the Princes Highway West in Victoria.
An agreement with Independent mem-
ber of parliament Rob Oakeshott saw the
provision of $35 million over three years
to accelerate the planning and precon-
struction work on a 37.8km stretch of the
Paci c Highway between Kempsey and
Port Ma cquarie.
e government also allocated funds
from the Nation Building 2 Program,
scheduled to begin in 2014/15. Signi -
cant funding included $300 million for
a preconstruction study for the Mel-
bourne to Brisbane Inland Rail project;
$2.08 billion for the NSW Parramatta to
Epping Rail Link; $742 million for the
Qld Moreton Bay Rail Link; a further
$257.5 million for the Victorian Princes
Highway West; and $13 million for the
Tasman Highway.
To support regional Australia, the
government allocated $800 million over
ve years to set up a Priority Regional
Infrastructure Program, and $573 million
for a Regional Infrastructure Fund. ese
requirements fulfil the government s
agreement to Oakeshott and Independent
Tony Windsor.
e Queensland oods have seen the
federal government make cut-backs to
the budget. It announced that it would
defer $1 billion worth of projects, with
funding coming from individual state
projects.
Selected upgrade and duplication
projects worth $325 million have already
been deferred in Queensland. Other states
and territories are yet to announce which
infrastructure projects will be deferred
to make up the remaining $675 million.
With the next scal period approach-
ing, treasurer Wayne Swan has welcomed
submissions from around the world
with respect to planning the next federal
budget.
e Building Council of Australia was
one of the few organisations that submit-
ted its prebudget submission subsequent
to the Queensland floods. It said that
funding of reconstruction spending by
governments should be sourced from
projects that deliver the least socio-
economic value, including infrastructure
projects that have not yet been subject to
a cost-bene t analysis.
It argued that this approach would
be preferable to raising taxes and these
measures, including the imple-
mentation of a temporary levy,
should only be considered a er
thorough examination of sav-
ings that could be made in the
budget.
Some of its recommenda-
tions included renewed fund-
ing for the government advi-
sory body Infrastructure Australia, and
a strategy to meet Australia s skills needs.
Consult Australia, which provided its
submission to the government prior to
the Queensland floods, recommended
increasing the funding of nationally
signi cant infrastructure projects. It en-
couraged investment in engineering skills
through the allocation of funding towards
the education portfolio for continuing
professional development schemes for
teachers of maths and science as well as
upgrading classroom facilities.
The Minerals Council of Australia,
which also made its submission prior
to the oods, prioritised transport in-
frastructure, in particular ports, energy
supply networks, water supply and tele-
communications infrastructure. It recom-
mended the completion of the Energy
White Paper as a priority.
It did not consider the Regional In-
frastructure Fund as sufficient for the
needs of regional Australia. It recom-
mended that the government pursue
a strategic framework for regional
development and to involve all tiers of
government as well as industry and local
community.
e federal budget is traditionally an-
nounced on the second Tuesday of May.
is year that date will be 10 May.
To support regional Australia, the
government allocated $800 million over
five years to set up a Priority Regional
Infrastructure Program.